BURNING ISSUES
Despite the turbulence that defined March, high taxes continue to dominate business sentiment for the 15th consecutive month, topping the list of burning issues.
In April, 41 percent of surveyed executives identified high taxes as their primary concern – eight percentage points lower than in March.
MORE TAX AND COST BURDENS
The tax burden weighs heavy as living costs surge with sentiment under strain
In the latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey, inflation remains the second most pressing issue. Nearly four in 10 (38%) respondents cited it as a major concern, which is seven percent more than in the previous month (31%).
Meanwhile, fuel shortages – triggered by the conflict involving the US, Iran and Israel – emerged as the third most cited concern with 32 percent expressing anxiety over what may be ahead.
Unsurprisingly, the broader impact of international conflicts ranked fourth, highlighted by a quarter (25%) of polled executives. High utility costs, following notable hikes in electricity tariffs, placed fifth with 23 percent of respondents saying so.
On a national scale, the cost of living and the economy swapped positions from the previous month with the former surging to the forefront. In April, an overwhelming majority (84%) identified the cost of living as the country’s primary challenge – up sharply by 45 percent from March (39%).
The economy ranked second, cited by 58 percent of those surveyed, which is three percent lower than in March.
Meanwhile, concerns surrounding the education system ranked third, likely driven by the decision to close schools on Wednesdays due to the fuel crisis, which persisted for three weeks – nearly one in five (19%) highlighted it as a burning issue.
Brain drain and the impact of climate change were placed fourth and fifth respectively, with 14 and 13 percent of those surveyed saying so.
– LMD
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